Are PAS Investments Meeting Customer Expectations?
2022 North American Life Insurer Perceptions of Policy Administration Systems
The global pandemic forced many insurers to accelerate the digitalization of their businesses. This came with a record number of policy administration system deals as they update their backoffices to meet their digital goals. Feedback from new and longer term customers provide insight into how well these systems meet the insurers’ needs.
Celent’s biennial North American policy administration system (PAS) research includes an online customer feedback survey. We received feedback on 16 solutions from 47 respondents across both individual and group/voluntary lines of business. The results from this year’s survey and results from the prior two surveys (2019 and 2017) give us a wealth of insight into what customers use in their vendor-supplied PAS and how they feel about the vendors and their solutions.